ProcurePro secures $15m from QIC Ventures
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The news: Construction platform ProcurePro has secured $15 million in a funding round led by QIC Ventures alongside existing investors Airtree, Glitch Capital and Bouygues, lifting the startup’s valuation to over $100 million.
The context: Brisbane-founded ProcurePro said the funding will be used to strengthen its construction-focused AI product suite and support expansion across the United Kingdom, Middle East and North America.
The company consolidates the full construction-procurement lifecycle into a single system, from scheduling through to subcontracting, using its AI roadmap to streamline processes before contracts are signed.
ProcurePro has now been deployed across 6,000 projects globally, representing more than $120 billion in construction value and over 20,000 processed trade packages.
What they said: “Construction firms are still managing their most critical commercial decisions and millions in spend via out-of-date and untrustworthy spreadsheets,” ProcurePro CEO Alastair Blenkin said.
“The lack of true oversight delays risk identification which ultimately erodes margins. We built ProcurePro to bring structure, control and certainty to the commercial cockpit of construction firms,” he added.
The source: ProcurePro media release
